Merced VA Loan Rates, Closing Costs & Stats

MERCED, CA

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Merced's 64 lenders originated 245 VA loans during 2022. The total origination value was $96,525,000, with an average VA loan value of $393,980.

    Merced VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Merced averaged 6.19% for the week of 2023-05-26, compared to the national average (all VA variants) of 6.408% for the same period.

    Merced's average VA mortgage closing costs are $6,351.

    The average rate for the prior week (2023-05-19) was 6.11% and one month ago for the week of 2023-04-21, the average rate was 5.63%.

    The average rate one year ago was 4.6%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.37%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Merced VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Merced level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 25 3.74% $8,946
    Mortgage Research Center, LLC 23 4.91% $7,689
    FREEDOM MORTGAGE CORPORATION 16 4.28% $12,110
    QUICKEN LOANS, LLC 16 3.35% $7,249
    DHI MORTGAGE COMPANY, LTD. 14 3.82% $9,336
    NAVY FEDERAL CREDIT UNION 12 3.49% $9,011
    CROSSCOUNTRY MORTGAGE, LLC 8 4.55% $9,107
    Paramount Residential Mortgage Group, Inc. 8 5.38% $9,894
    LOANDEPOT.COM, LLC 7 4.19% $12,737
    PENNYMAC LOAN SERVICES, LLC 7 3.04% $8,180
    The Federal Savings Bank 5 4.10% $13,515
    ENVOY MORTGAGE, LTD 5 4.18% $9,079
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 3.34% $9,090
    PLANET HOME LENDING, LLC 4 3.34% $11,213
    SCENIC OAKS FUNDING, INC. 3 4.63% $9,681
    ALAMEDA MORTGAGE CORPORATION 3 4.66% $7,046
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.58% $10,139
    HOME POINT FINANCIAL CORPORATION 3 3.75% $15,424
    U.S. Bank 3 3.87% $4,285
    ACADEMY MORTGAGE CORPORATION 3 5.33% $22,508
    AMERISAVE MORTGAGE CORPORATION 3 4.75% $15,476
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.83% $7,585
    NEW DAY FINANCIAL, LLC 3 4.91% $13,394
    VILLAGE CAPITAL MORTGAGE 2 4.69% $9,157
    Barrington Bank & Trust Company, N.A. 2 3.87% $8,019
    CARDINAL FINANCIAL 2 2.81% $37,670
    Carrington Mortgage Services, LLC 2 4.94% $13,396
    GUARANTEED RATE, INC. 2 4.19% $7,487
    GUILD MORTGAGE COMPANY 2 4.56% $14,669
    LOANPAL, LLC 2 4.75% $10,759
    MOVEMENT MORTGAGE, LLC 2 4.81% $5,951
    Nations Lending Corporation 2 5.25% $20,199
    RESIDENTIAL BANCORP. 2 3.88% $8,918
    SUN WEST MORTGAGE COMPANY, INC. 2 6.09% $4,554
    Low VA Rates, LLC 1 4.25% $16,356
    Magnolia Bank 1 2.75% $11,776
    MID AMERICA MORTGAGE, INC. 1 3.75% $2,370
    MORTGAGEONE, INC. 1 3.63% $4,582
    HOMESIDE FINANCIAL, LLC 1 3.25% $11,215
    USAA Federal Savings Bank 1 6.13% $16,976
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $6,308
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.13% $13,916
    NATIONS DIRECT MORTGAGE, LLC 1 5.63% $12,205
    BROKER SOLUTIONS, INC. 1 2.75% $33,222
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.00% $5,834
    FRONTWAVE 1 2.38% $1,435
    NEWREZ LLC 1 3.75% $3,701
    Flagstar Bank, FSB 1 3.75% $4,348
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.75% $5,636
    PENTAGON FEDERAL CREDIT UNION 1 2.75% $16,954
    Equity Prime Mortgage LLC 1 2.50% $10,145
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.25% $25,790
    COUNTRY CLUB MORTGAGE, INC. 1 3.88% $9,529
    VERITAS FUNDING, LLC 1 6.38% $17,654
    CMG MORTGAGE, INC. 1 2.99% $7,791
    SUMMIT FUNDING, INC. 1 5.13% $4,928
    Sunflower Bank 1 4.88% $4,967
    Amerifirst Financial, Inc. 1 5.00% $14,749
    CLEARPATH LENDING 1 6.13% $22,029
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 2.75% $6,790
    LAKEVIEW LOAN SERVICING, LLC 1 4.25% $17,293
    Lend Smart Mortgage, LLC 1 4.25% $4,567
    INSPIRE HOME LOANS INC. 1 3.63% $26,552
    CALIBER HOME LOANS, INC. 1 3.63% $6,751

    The top Merced VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 25 VA loans originated. Their average total fees are $8,946, which is $1,257 higher than the next largest lender, Mortgage Research Center, LLC.

    The lowest fee Merced VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,249), Mortgage Research Center, LLC ($7,689), UNITED WHOLESALE MORTGAGE, LLC ($8,946), NAVY FEDERAL CREDIT UNION ($9,011) and DHI MORTGAGE COMPANY, LTD. ($9,336).

    The lowest rate Merced VA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.35%), NAVY FEDERAL CREDIT UNION (3.49%), UNITED WHOLESALE MORTGAGE, LLC (3.74%), DHI MORTGAGE COMPANY, LTD. (3.82%) and FREEDOM MORTGAGE CORPORATION (4.28%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $299,450 (7.0%) $350,837 (3.5%) 1.11 477
    2018-02-01 $298,733 (8.6%) $354,156 (-20.4%) 1.09 457
    2018-03-01 $296,170 (8.2%) $346,615 (3.0%) 1.04 460
    2018-04-01 $294,925 (5.7%) $339,142 (-0.2%) 1.00 476
    2018-05-01 $299,475 (6.0%) $358,660 (2.2%) 1.00 456
    2018-06-01 $298,840 (4.9%) $362,682 (0.9%) 1.00 455
    2018-07-01 $305,000 (5.2%) $367,378 (3.0%) 1.02 489
    2018-08-01 $310,065 (8.6%) $371,008 (7.7%) 1.04 534
    2018-09-01 $300,000 (3.6%) $358,518 (3.1%) 1.01 572
    2018-10-01 $305,915 (5.6%) $372,978 (8.0%) 1.04 634
    2018-11-01 $299,900 (0.5%) $353,721 (1.5%) 1.02 652
    2018-12-01 $299,900 (-1.7%) $354,790 (0.9%) 1.03 653
    2019-01-01 $299,475 (0.0%) $360,698 (2.8%) 1.03 619
    2019-02-01 $305,250 (2.2%) $358,154 (1.1%) 1.03 642
    2019-03-01 $314,900 (6.3%) $368,498 (6.3%) 1.05 629
    2019-04-01 $318,694 (8.1%) $535,485 (57.9%) 1.01 620
    2019-05-01 $325,250 (8.6%) $385,989 (7.6%) 1.02 640
    2019-06-01 $329,900 (10.4%) $393,216 (8.4%) 1.03 665
    2019-07-01 $333,700 (9.4%) $402,317 (9.5%) 1.04 653
    2019-08-01 $333,600 (7.6%) $403,227 (8.7%) 1.05 648
    2019-09-01 $330,350 (10.1%) $411,034 (14.7%) 1.04 562
    2019-10-01 $323,250 (5.7%) $397,014 (6.4%) 1.04 601
    2019-11-01 $320,000 (6.7%) $395,190 (11.7%) 1.05 546
    2019-12-01 $319,950 (6.7%) $400,226 (12.8%) 1.07 519
    2020-01-01 $316,969 (5.8%) $399,872 (10.9%) 1.06 489
    2020-02-01 $329,900 (8.1%) $406,221 (13.4%) 1.08 446
    2020-03-01 $337,500 (7.2%) $388,434 (5.4%) 1.06 429
    2020-04-01 $344,500 (8.1%) $387,096 (-27.7%) 1.08 433
    2020-05-01 $349,900 (7.6%) $886,825 (129.8%) 1.06 442
    2020-06-01 $349,950 (6.1%) $393,833 (0.2%) 1.03 377
    2020-07-01 $349,225 (4.7%) $474,433 (17.9%) 1.01 295
    2020-08-01 $347,500 (4.2%) $495,306 (22.8%) 1.00 225
    2020-09-01 $333,185 (0.9%) $506,156 (23.1%) 0.95 216
    2020-10-01 $339,900 (5.2%) $512,485 (29.1%) 0.97 232
    2020-11-01 $345,000 (7.8%) $497,379 (25.9%) 1.01 287
    2020-12-01 $369,950 (15.6%) $533,576 (33.3%) 1.10 244
    2021-01-01 $379,000 (19.6%) $569,047 (42.3%) 1.13 198
    2021-02-01 $377,425 (14.4%) $606,396 (49.3%) 1.10 174
    2021-03-01 $379,675 (12.5%) $605,228 (55.8%) 1.08 173
    2021-04-01 $378,675 (9.9%) $605,236 (56.4%) 1.03 158
    2021-05-01 $385,000 (10.0%) $610,046 (-31.2%) 1.02 161
    2021-06-01 $388,988 (11.2%) $586,095 (48.8%) 1.02 191
    2021-07-01 $395,000 (13.1%) $585,220 (23.4%) 1.04 214
    2021-08-01 $400,828 (15.4%) $588,778 (18.9%) 1.07 232
    2021-09-01 $399,950 (20.0%) $579,196 (14.4%) 1.07 274
    2021-10-01 $412,500 (21.4%) $619,992 (21.0%) 1.10 260
    2021-11-01 $424,975 (23.2%) $721,416 (45.0%) 1.14 247
    2021-12-01 $429,500 (16.1%) $704,606 (32.1%) 1.16 231
    2022-01-01 $437,000 (15.3%) $740,690 (30.2%) 1.18 187
    2022-02-01 $449,500 (19.1%) $757,971 (25.0%) 1.17 195
    2022-03-01 $447,450 (17.9%) $726,751 (20.1%) 1.12 221
    2022-04-01 $450,000 (18.8%) $715,425 (18.2%) 1.07 258
    2022-05-01 $470,500 (22.2%) $720,354 (18.1%) 1.08 318
    2022-06-01 $469,995 (20.8%) $703,604 (20.1%) 1.05 390
    2022-07-01 $445,999 (12.9%) $614,826 (5.1%) 1.01 473
    2022-08-01 $432,625 (7.9%) $610,554 (3.7%) 1.00 462
    2022-09-01 $435,225 (8.8%) $611,810 (5.6%) 1.02 455
    2022-10-01 $428,000 (3.8%) $540,096 (-12.9%) 1.01 450
    2022-11-01 $420,000 (-1.2%) $533,140 (-26.1%) 1.01 438
    2022-12-01 $428,500 (-0.2%) $514,681 (-27.0%) 1.06 381
    2023-01-01 $421,748 (-3.5%) $509,000 (-31.3%) 1.04 332
    2023-02-01 $439,500 (-2.2%) $549,894 (-27.5%) 1.06 300
    2023-03-01 $437,000 (-2.3%) $543,071 (-25.3%) 1.03 284
    2023-04-01 $440,995 (-2.0%) $553,191 (-22.7%) 1.03 245
    Merced's median listing price for 2023-04-01 was $440,995, a difference of $-9,005 (-2.0%) versus the prior year and $3,995 versus the prior month.

    Merced's median listing price comes in at 103% of the national average.

    Merced's average listing price for 2023-04-01 was $553,191, a difference of $-162,234 (-22.7%) versus the prior year and $10,120 versus the prior month.

    For the 2023-04-01 period, Merced had 245 MLS listings, a difference of -39 listings (-14%) versus the prior month and -13 listings (-5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Merced (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 55 days 1,757 sqft
    2018-02-01 50 days 1,757 sqft
    2018-03-01 44 days 1,730 sqft
    2018-04-01 42 days 1,700 sqft
    2018-05-01 41 days 1,744 sqft
    2018-06-01 44 days 1,749 sqft
    2018-07-01 42 days 1,774 sqft
    2018-08-01 44 days 1,733 sqft
    2018-09-01 49 days 1,729 sqft
    2018-10-01 43 days 1,760 sqft
    2018-11-01 52 days 1,720 sqft
    2018-12-01 64 days 1,726 sqft
    2019-01-01 74 days 1,720 sqft
    2019-02-01 67 days 1,776 sqft
    2019-03-01 57 days 1,830 sqft
    2019-04-01 50 days 1,864 sqft
    2019-05-01 46 days 1,870 sqft
    2019-06-01 51 days 1,854 sqft
    2019-07-01 53 days 1,876 sqft
    2019-08-01 64 days 1,854 sqft
    2019-09-01 70 days 1,835 sqft
    2019-10-01 66 days 1,818 sqft
    2019-11-01 67 days 1,814 sqft
    2019-12-01 75 days 1,761 sqft
    2020-01-01 69 days 1,719 sqft
    2020-02-01 65 days 1,772 sqft
    2020-03-01 58 days 1,806 sqft
    2020-04-01 62 days 1,804 sqft
    2020-05-01 71 days 1,844 sqft
    2020-06-01 67 days 1,862 sqft
    2020-07-01 70 days 1,834 sqft
    2020-08-01 57 days 1,827 sqft
    2020-09-01 50 days 1,746 sqft
    2020-10-01 39 days 1,749 sqft
    2020-11-01 33 days 1,729 sqft
    2020-12-01 47 days 1,831 sqft
    2021-01-01 52 days 1,815 sqft
    2021-02-01 32 days 1,682 sqft
    2021-03-01 33 days 1,658 sqft
    2021-04-01 42 days 1,696 sqft
    2021-05-01 42 days 1,700 sqft
    2021-06-01 28 days 1,689 sqft
    2021-07-01 32 days 1,713 sqft
    2021-08-01 34 days 1,739 sqft
    2021-09-01 35 days 1,724 sqft
    2021-10-01 39 days 1,703 sqft
    2021-11-01 43 days 1,593 sqft
    2021-12-01 51 days 1,613 sqft
    2022-01-01 60 days 1,563 sqft
    2022-02-01 39 days 1,567 sqft
    2022-03-01 30 days 1,656 sqft
    2022-04-01 35 days 1,690 sqft
    2022-05-01 36 days 1,773 sqft
    2022-06-01 38 days 1,782 sqft
    2022-07-01 38 days 1,719 sqft
    2022-08-01 49 days 1,701 sqft
    2022-09-01 56 days 1,713 sqft
    2022-10-01 52 days 1,727 sqft
    2022-11-01 59 days 1,730 sqft
    2022-12-01 71 days 1,743 sqft
    2023-01-01 79 days 1,710 sqft
    2023-02-01 80 days 1,788 sqft
    2023-03-01 57 days 1,709 sqft
    2023-04-01 48 days 1,696 sqft
    Merced's median listing age (time on market) for 2023-04-01 was 48 days. This is 37% longer than the same period one year ago.

    Merced's median square footage for active listings during the 2023-04-01 period was 1,696 sqft. One year prior, the average listing was 1,690 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.